Are Christiano Ronaldo's Legs Really Insured?

When one hears a headline that Jennifer Lopez's gluteus maximus or David Beckham's face is insured for tens-of-millions of dollars skepticism naturally arises.  How does someone value that? And can insurance companies actually insure for these things?

There are a few key tenets that need apply in order for insurance to be written.  

  • It cannot be a speculative risk, meaning that a risk has both the possibility of a gain and a loss such as a game of blackjack.  It must be a pure risk which involve only the possibility of a loss.
  • It must be unexpected. 
  • The loss must be calculable

According to a 2013 report, Chritiano Ronoldo had his legs insured for 103 million Euros.  This insurance policy qualifies because there is pure risk, the worth of his legs are directly tied to his contract and an injury would be clearly unexpected.  In the event of a catastrophic accident while playing soccer he would be covered under a workers compensation policy.  If the career ending injury were to happen off the field, its hard saying if his legs would be covered.  Inferring on this article- it is likely that this is a workers compensation policy since the policy is through the club.  It's doubtful that he would be payed 103,000,000 Euros if it happened in a car accident or shark attack, but without seeing the insurance policy we can't be too sure.

As for J-Lo's backside...doubtful. 

Why an Independent Insurance Agency?

What sets an independent insurance agency apart from direct writers such as Geico, Farmers, Allstate, State Farm, Progressive, and Nationwide? As independent agents we take the time to understand exactly what you need and make sure you are covered appropriately. We have long standing relationships with each of the insurance carriers we represent so we have a thorough understanding of the varying coverages each of our Insurers provide. Insurance companies that utilize the agency channel to provide insurance coverage know that they need to compete for your business. They are not spending millions of dollars on advertising.  The money that is saved on advertising costs often times results in reduced premiums.  Direct writers will also tout that they can give you a quote in 15 minutes, but it would be wise to call a few different direct writers if you really want the best deal.  All that time begins adding up... Let a local independent insurance do that for you a no additional cost.